Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.56 million autocallable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $2.56 million of autocallable contingent coupon underlier-linked notes due May 7, 2029 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Invesco S&P 500 High Beta ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a quarterly contingent coupon of 6% annually if each underlier closes at or above the 70% coupon trigger level on the corresponding observation date.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date starting in January 2022.
At maturity, if each underlier finishes at or above 70% of its initial level, the payout will be par.
Investors will be fully exposed to the decline of the worst performer if it falls by more than 30%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, Invesco S&P 500 High Beta ETF
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| Amount: | $2,564,000
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| Maturity: | May 7, 2029
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| Coupon: | 6% annual rate, payable quarterly if each underlier closes above the coupon trigger level on the corresponding observation date
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| Call: | Par plus coupon if each underlier closes at or above initial level on any quarterly observation date starting in January 2022
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| Price: | Par
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| Payout at maturity: | Par if worst-performing underlier falls by up to 30%; otherwise, full exposure to losses of worst performer
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| Initial levels: | 13,860.76 for Nasdaq, 2,266.449 for Russell, $72.94 for ETF
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| Coupon trigger levels: | 70% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | April 30, 2021
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| Settlement date: | May 5, 2021
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057H3W8
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